A new Research and Markets report indicates that the global market for nonlethal weapons will grow in value from $5.2 billion in 2014 to $7.1 billion in 2020 at a 5.45-percent compound annual growth rate.
The company said Friday continued U.S. research and development work into nonlethal weapons, including vessel and vehicle stopping devices and nontethered munitions, drive growth in the country.
According to the report, the U.S. will continue to have the largest market share and Brazil and South Africa are emerging markets.
Research and Markets also examined requirements and training procedures as well doctrines on adoption of the technology to regulate the market.
The report listed the following companies as among the market’s key players:
- BAE Systems
- Eagle Industries
- LRAD Corp.
- Taser International